The Egypt-focused gold miner also expects solid growth this year. It’s targeting 580,000 ounces in production, up from an estimate of 550,000-560,000 ounces.
The World Bank-supported mining legislation was introduced to attract investment into copper and cobalt projects from global miners including Glencore Plc, Freeport-McMoRan Inc. and China Molybdenum Co. Gécamines claims country has not benefited from it.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.